Brand Management Assignment - Nestle & Kitkat
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Added on 2021-02-22
Brand Management Assignment - Nestle & Kitkat
Added on 2021-02-22
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Brand management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Introduction..................................................................................................................................1Main Body...................................................................................................................................3Conclusion...................................................................................................................................3TASK 2............................................................................................................................................4Analyses the brand portfolio strategy, Hierarchy Management of Brands and Strategies tomaintain the Equity of the brand..................................................................................................4Hierarchy Management of Brands...............................................................................................4TASK 3............................................................................................................................................7Brand extension and leverage......................................................................................................7TASK 4............................................................................................................................................9Evaluate different types of techniques for measuring and managing brand value......................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBrand management is the concept of developing knowledge of the term brand. It includesdeveloping a promise and making that promise maintained. Brand is the strong concept thatdevelop the company positioning and brand value in the market. In other words, company brandvalue having the high impact on the customer demand in both positive and negative way. Presentstudy will discuss the two most popular brands Nestle & Kitkat, also the report will consider theOptimum Impression Ltd company in order to explain the marketing concept. Therefore, thebrand management will further outline the concept of branding and justified how branding is amarketing tool. Also, the study outline the key components of a successful brand strategy forbuilding a brand strategy for building and managing brand equity. Brand management alsoconsists brand portfolio and brand hierarchy management that will also the report will furtherdeveloped. The whole study will further described about the concept of brand leveraged andexplain the brand the term brand awareness, market share, consumer attitudes, purchasing intentetc.TASK 1IntroductionAn overview of Brand and Brand Equity along with the stages building successfullyBrand & Brand EquityBrand equity is a marketing term that describes a brand value and its importance withinthe business. It is play a high valued determined by consumer perception of and experience withbrand (Batey, 2015). With having good brand value it will help company and also can chargemore for a product with a great deal of brand equity. Excellent brand equity is also very helpfulto boost company stock price. In other words, Brand equity can be the reason of brand extensionand brand recognition. Stages of Building brandListening : Listening is the tool that help to better understand the insight knowledge orwants of the customers (The 5 Stages of Brand-Building, 2019). In other words, Organisationsshould need to be research on market in order to measure the current needs and demand of thebuyers. This step can helpful for the brand to sustained the brand value of the company in themarket. Envisioning : The term envisioning is define the imagination that customer made for the1
brand. It comes from brand logo & design (Datta, Ailawadi and Van Heerde, 2017). However, itwould be wrong to underestimate the role of logo design. It is the basic mark of brand identifythat makes the customer more curious to buy a product or services. Communicating : Way of communicating the message from company to customerswhich is very important and necessary for the brand to maintained the brand equity.Communication channels through company communicate the new information to the buyers.Such as Advertisement, promotion and high influencing business opportunity and gain (Dens andDe Pelsmacker, 2016). External component of communication is planning, executing andawareness campaign throughout the business gain. Living : Living stage is the another second image of brand building that helps tostrengthen the brand decision making that touch every aspect of the business and growing thebusiness objectives and gain objectives into efficient manner. Measuring : Measuring the stage which strengthen the process to strong the better thecorrections as required to eliminate the chances of failure. However, by the help of following five stages it can helps to build the strong brandequity. Role of the marketing department in creating a brand equityAaker's Brand Equity Model According to model Aaker's brand equity model it has been analysed that, Brand equityplay a most essential role for marketing that can help to better promote the business products inthe market (.Keller, 2016). According to Aaker Model it describes the five categories of brandassess such as given below:Brand Loyalty : Brand loyalty is the potential term that keeps the loyal customers connectedwith the brand as long period of time. Besides, it can also helps to enhance the customer focus onthe brand as well. So In order to promote the brand in the market, Brand loyalty is helpful tomarketing the company product or services. Brand Awareness : Brand equity is leverage the information or about the brand for the potentialbuyers. It enable to assist associate anchors, familiarity, maintained the product sustainabilityand consumer consideration. Perceived Quality : Perceived quality refers to the brand recognition that helps to communicateinformation to the buyers (May, Monga and Kalaignanam, 2015). However, Brand quality makes2
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